Brent oil price shows more bullish bias, settling above the EMA50, to hint heading to achieve more expected gains in the upcoming sessions, especially that it forms double bottom pattern that appears on the chart, thus, the bullish bias will be suggested for today, and the main target is located at 92.00.
It is important to monitor the price when reaching the mentioned target, as breaching it will push the price out of the main bearish channel to start bullish correction on the intraday and short term basis, taking into consideration that breaking 90.00 followed by 88.90 levels will stop the suggested positive scenario and press on the price to resume the main bearish track again.
The expected trading range for today is between 89.00 support and 92.00 resistance.
The expected trend for today: Bullish
Origin: Economies
